Math MCQ: A sum of money amounts to 4,840 in 2 years and to 5,324 in 3 years at compound interest compounded annually. The rate of interest per annum is ?

A sum of money amounts to 4,840 in 2 years and to 5,324 in 3 years at compound interest compounded annually. The rate of interest per annum is ?

Correct Answer: 8%

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